A number of recent reports have revealed that credit card debt in the UK has been rising, and on a per person basis the level of credit card debt in the UK is said to be over £5000 each. The credit crunch and the recession have both taken their toll on households across the UK over the past couple of years, and this has resulted in many people struggling financially. Read the rest of this entry

According to economists, Britain is facing a national disaster in the number of young people who are out of work. Almost 20% of those aged 16 to 24 are jobless with about 947,000 unable to find work. Read the rest of this entry

There are many methods of saving money that you can employ in these days of less money and fewer jobs. Take an extra packet of sugar and creamer the next time you go out for coffee and use them at home. If you do this on a regular basis you can save on your groceries by not having to buy as much sugar and milk for your tea or coffee. Read the rest of this entry

Just a couple of years ago the crippling base interest rate in the UK meant that many homeowners were unable to keep on top of sky high mortgage repayments, and many others had to default on other unsecured debts in order to ensure that they could keep on top of their mortgage repayments and avoid losing their homes. Read the rest of this entry

Did you know that March 25 was Debt Freedom Day? Chances are you missed it. This is the day that Unbiased.com figures that the average working person has now paid the interest on their debts for the year. Read the rest of this entry

Over recent months credit conditions in the UK have become tighter and tighter, and this has all stemmed from the global credit crunch, which took a hold in the UK last summer and has been wreaking havoc in the financial markets ever since. With so many people now unable to get finance as easily as they could before it is little surprise that so many have turned to alternatives such as payday loans and doorstep lenders, and the increasing number of people turning to lenders such as these has been reflected in the rise in business that some of these lenders have enjoyed. Read the rest of this entry

At the end of last year and the start of this year there was a great deal of speculation over how consumers would manage their debt problems given the effects of the global credit crunch, the increase in living costs and bills, and higher mortgage costs, coupled with reduced availability to finance. It was predicted by many industry officials that insolvency levels would continue to rise over the course of this year, as more and more people walked away from their debts because they could no longer cope with their repayments. Read the rest of this entry

Since interest rates started going up in the UK between August 2006 and July 2007 there have been grave concerns in relation to the millions of people who were on cheap fixed rate mortgages and were due to come off them, as they would be left to try and manage rocketing repayments with interest rates so much higher than when they took out their fixed rate mortgage. Thankfully, some enjoyed a little saving grace through the fact that between December 2007 and April of this year interest rates fell three times, although they were still higher than when many of these homeowners took out their cheap fixed rate deals. Read the rest of this entry

Facing one of the most difficult economic scenarios in years, America has been in a slump that many financial experts are predicting will last the rest of 2008 and perhaps well into the year thereafter. The original problem started with the mortgage crisis, leading to thousands of foreclosures throughout the country and many people with home ownership, then it was confounded by the credit dilemma which has just as many US citizens struggling to make ends meet amidst growing collective debt. Read the rest of this entry

In today’s financial markets, consumer debt is mounting at a staggering rate. This is leaving many reeling with desperation and the accumulation of more and more bills. With mortgage payments, car notes, unexpected emergencies, and just the simple day to day living expenses, consumers are finding that what they make can not cover what they owe.

This imbalance leads to debt and that debt can lead to a whole slew of unwanted results. In an effort to restore balance, many consumers are looking for solutions anywhere they find and often times, what they find is not the right or even smartest solution available. Read the rest of this entry